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G8 Summit Concluded Early with $50 Billion Aid to Africa

Due to the recent terrorist attack, The world leaders' summit (G8) has concluded early on the economic summit and agreed upon a $50 billion aid package to Africa annually by 2010 and $3 billion of ad
( [email protected] ) Jul 08, 2005 04:55 PM EDT

Due to the recent terrorist attack, The world leaders' summit (G8) has concluded early on the economic summit and agreed upon a $50 billion aid package to Africa annually by 2010 and $3 billion of additional support for Palestine.

In the light of the terrorist attack on London, the G8 leaders make a separate joint statement pledging to combat terrorism in new joint efforts.

In his closing statement of the summit, Blair said: "There is no hope in terrorism, nor any future in it worth living. And it is hope that is the alternative to this hatred, so we offer today this contrast with the politics of terror."

Prime Minister Blair proposed to the summit nations to commit what equals to 0.7 percent of their national income by 2015 for foreign aid. The European Union wrote a joint statement agreeing to the plan, while Bush rejected the notion, leaving US at 0.16 percent commitment, the least of the G8 nations.

Aside from increasing aid to africa, leaders also mentioned issues on trade deals, endorsed concellation of debts for the 18 poorest countries, universal access to AIDS treatment, and renewed peacekeeping commitment to Africa and its improvement toward forming democratic policies.

In the midst of the meeting, British Prime Minister Tony Blair departed the summit for several hours for Scotland Yard, London to calm a troubled people in the aftermath of terrorism. Within hours, G8 leaders also issued a special joint statement labeling the act as "barbaric."

"All of this does not change the world tomorrow -- it is a beginning, not an end," Blair said, "And none of it today will match the same ghastly impact as the cruelty of terror. But it has a pride and a hope and humanity at its heart that can lift the shadow of terrorism and light the way to a better future."